Import of Ships (Vessels) & other moveable capital goods etc. if imported under SFIS Scheme of FTP and their installation, clarification thereof

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....ar No. 26/2009-14   To All Licensing Authorities All Customs Authorities Subject: Import of Ships (Vessels) & other moveable capital goods etc. if imported under SFIS Scheme of FTP and their installation, clarification thereof. Attention is invited to SFIS Scheme under the FTP 2004-09 & current FTP 2009-14. Trade and Industry has represented that some Customs Authorities are....

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....prior to 2005-06 period under the FTP. The intention of this provision is to protect the domestic sector industry of 'motor cars, sports utility vehicles and the likes' and thereby disallows such imports only under SFIS Scheme. b) Ships cannot be treated as 'vehicle'. Hence, it is clarified that the import of Ships, a capital good for Shipping Sector, is permitted under the scheme. c) Upon i....